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OPTIONS ON COCOA FUTURES
 


Codes and classification
Mnemo C Market NYSE Liffe London Vol. 555 19/11/09
Exercise type American Currency £ O.I. 160,828
 Options on Cocoa Futures
Unit of trading One Cocoa Futures contract
Expiry months March, May, July, September, December, such that ten expiry months are available for trading, subject to the option expiring before the underlying future.
Price basis Pounds sterling per tonne
Minimum price movement
(tick size and value)		 £1 per tonne (£10)
Exercise day Exercise by 17:00 on any business day prior to the expiry day
Expiry day 12.00 on the last trading day of the calendar month preceding the expiry month.
Trading hours 09:32 - 16:50
Related documentation
Options on Commodity Contracts (No. 501)
Last update 06/02/07

Market: London

Trading Platform :

  • LIFFE CONNECT® Trading Host for Futures and Options
  • Algorithm: Central order book applies a pro-rata algorithm, but with priority given to the first order at the best price subject to a minimum order volume and limited to a maximum volume cap.
  • Wholesale Services: None Apply.

Contract Standard: Assignment of one Cocoa Futures contract for the expiry month at the exercise price.

Exercise Price Increments: £25 per tonne

Option Premium: The contract price is not paid at the time of purchase. Option positions, as with futures positions, are marked-to-market daily giving rise to positive or negative variation margin flows. If an option is exercised by the Buyer, the Buyer is required to pay the original contract price to the Clearing House and the Clearing House will pay the original option price to the Seller on the following business day. Such payments will be netted against the variation margin balances of Buyer and Seller by the Clearing House.

Clearing: LCH.Clearnet Ltd.

Unless otherwise indicated, all times are London times.